Atlanta-based producer Jermaine Dupri is now taking action in a lawsuit filed against him by SunTrust Bank several weeks ago. According to AllHipHop.com, Dupri recently filed a counterclaim against the bank, which is currently seeking nearly $2 million from the So So Def Records owner.
In his counterclaim, Dupri states that SunTrust failed to fulfill a number of payment arrangements the two parties previously agreed upon.
Among the arrangements was one that would have allowed the bank to pull money from Dupri’s EMI publishing royalties as loan repayment for his taxes. According to the Atlanta beatsmith, SunTrust failed to do so and as a result he was penalized by the government.
Dupri also claims that loan documents were never made available for review to his legal team and that he never received the closing papers for his loan agreement with SunTrust.
Last month, it was revealed that SunTrust would be suing Dupri for a sum of $1.9 million due to a loan he defaulted on. As a result, the producer could possibly lose various properties, including his home, due to the lawsuit.
In 2011, Dupri faced a similar legal issue when he was sued by an Atlanta woman for missed child support payments. That particular lawsuit shortly followed news that the So So Def leader narrowly avoided foreclosure on his Atlanta home.
RELATED: Jermaine Dupri Being Sued By Bank, May Lose Songs & Studio
i bet he regrets making that money aint a thing song now that hes goin broke
he’s still getting paid from that song dummy
^dummy he had mills at that time and now? he aint getting paid the same when he made the song
yet he still cant p@y his taxes or his car note….
The judge will ask Jermaine if he has the money to pay. The midget will say no, and the jokes will begin.
True. He’s getting residuals, but I can’t imagine there very much.
not enough to make them lambo p@yments apparently
damn why hhdx blocking me from hating on jd
Lawsuits ain’t a thang
If I had a label with these people in their prime-
Jagged Edge
Xscape
Anthony Hamilton
Da Brat
Bow Wow
and produced multi-platinum songs for-
Mariah Carey
Kris Kross
Usher
Monica
I’d think that I’d be rich for life
Not when money ain’t a thang. Dudes blow through money like they will be making the same money forever. Never saving, always spending. From the dude that makes $9.00 an hour to the dude that makes $9,000 an hour, people like to spend more than they have to look like more than they are. We are a people pleasing society. We will go broke to look like we have money to someone else. That’s insane. We should live with ourselves and not care what the next person thinks about us. Are they paying the car note or the mortgage? Are they buying they $100,000 chains folk like to buy? Hell NO.
Kids, this is how your favorite rapper that tells you what their shit costs on their songs ends up in the future. They never say if it’s paid for, or how they’re paying for it, or what they really clearing after expenses, or even worse if they’re fuckin off their money which obviously they are without handling priorities, or you wouldn’t be seeing shit like this.
TRUEEEEE!!!
IF JD CAN GO BROKE MOST OF YOUR FAVORITE DOWN SOUTH RAPPERS ARE NEXT
http://www.youtube.com/watch?v=zkD3jV9cgAI
http://www.youtube.com/watch?v=e7fibtRFnLs
http://www.youtube.com/watch?v=hZwsdW6TAl8
http://www.youtube.com/watch?v=lPBKtyE0X9U